The COVID-19 pandemic has shown the necessity for businesses to shift their business model towards a more digital one, a shift that was critical for their survival throughout this period and will remain so in the longer-term.
Digitalisation and businesses post-COVID-19 was the main theme of a webinar hosted by the Gozo Business Chamber in collaboration with Bank of Valletta and Microsoft Malta.
In his introductory intervention Joseph Borg, president of the Gozo Business Chamber, highlighted that “together with the renewable energy sector we have earmarked digitalisation as one of the pillars of a new economy for the island of Gozo.”
Tonia Naudi, head multi-channel and payments business for Bank of Valletta, added: “The culture in Malta is changing. In these past two months we have seen a major shift towards electronic payments as more consumers opt for digital payments to meet their daily financial requirements.
“However, cheque usage is still 10 times higher than the EU average and 59 per cent of local consumers still pay their bills in cash or cheque. At Bank of Valletta, we continue to encourage both businesses and consumers to take advantage of the changes happening in the payment landscape and move to the cheaper, secure, faster and more convenient digital payments and banking. As technology evolves, we look forward for even more exciting times ahead.”
These past few months proved to be an eye-opener
Paris P. Savva, territory channel manager for Microsoft, SMB (Cyprus – Malta) continued: “Millennials have shown us the way to do business faster, work remotely and avoid inessential business travel. Time is a commodity they cannot buy; becoming greener and more efficient is their mantra. These are today’s consumers and this is what they are asking from businesses.
“We expected the shift to digital to be fast, but COVID-19 forced us to sprint. We thought we were connected but we found out we were disconnected. It reshifted the whole global commerce. At Microsoft, we strived to bridge the gap, helping people around the world to work remotely from different locations in a secure manner, helping them to reconnect, meet and collaborate remotely. Businesses can measure employee productivity through applications and from the palm of your hands, you can now drive a culture where everybody in your organisation can deliver more.”
“This was a very interesting collaboration between our Chamber, Microsoft Malta and Bank of Valletta,” Daniel Borg, CEO at the Gozo Business Chamber, concluded.
“These past few months proved to be an eye opener and a tough learning experience for all us. The potential of available applications and tools to assist businesses move forward is impressive. I urge businesses to embrace their digital journey, to explore further and to integrate technology as a core part of their organisation in order to reap the long-term benefits of digitalisation.”
Businesses seeking to avail themselves of digital payment solutions can get in touch with the BOV Payments specialists on paymentsbusiness@bov.com or call on 2131 2020. For mor info, visit www.bov.com/Business.